Tag: Social Security benefits
It’s inevitable that many older workers – either fearful of returning to work or unable to find employment – will claim their Social Security benefits early as a result of COVID-19. While claiming early locks beneficiaries into actuarially reduced monthly payments, it offers a safety net for unemployed older workers. In preparation for looking at…
I need to add a word about the potential impact on Social Security benefits from the pandemic and the shutdown of the economy. Specifically, following a point made by Andrew Biggs, I argued that to the extent that COVID-19 results in a decline in average earnings in 2020, those born in 1960 (who turn 60…
